The Chair of QSuper, Don Luke (pictured) says the past 12 months have been very difficult for many of its members due to the health and economic effects of the COVID‑19.
Delivering the superannuation fund’s annual report, Mr Luke said that while many members’ lives had been seriously affected, others were on the front line of the community response to the health threat.
“The QSuper Board’s focus is to serve our members and it’s been pleasing, since I joined the Board in December 2019, to see the dedication of QSuper staff to serving members’ needs for their retirement wellbeing,” Mr Luke said.
“While we are disappointed with low market returns due to the economic dislocation caused by COVID‑19 across the world, our risk‑balanced investment strategy has helped members by delivering solid returns.”
He said QSuper had adapted to the changes caused by COVID‑19 to maximise the educational and advice opportunities for members “and we have innovated to develop new services to meet emerging needs”.
“While this is a credit to QSuper as an organisation, it is also a credit to the members who support us and trust us with one of their largest assets, their retirement savings,” Mr Luke said.
He said a significant matter for the QSuper Board this next financial year would be the decision on whether to proceed with a merger with Sunsuper.
“Our sole focus in making this decision will be based only on what is best for our members, now and into the future,” Mr Luke said.
